[Congressional Record Volume 149, Number 131 (Tuesday, September 23, 2003)]
[Senate]
[Pages S11867-S11873]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




               UNITED STATES OLYMPIC COMMITTEE REFORM ACT

  Mr. BURNS. Mr. President, I ask unanimous consent that the Senate 
proceed to the immediate consideration of Calendar No. 237, S. 1404.
  The PRESIDING OFFICER. The clerk will report the bill by title.
  The legislative clerk read as follows:

       A bill (S. 1404) to amend the Ted Stevens Olympic and 
     Amateur Sports Act.

  There being no objection, the Senate proceeded to consider the 
bill which had been reported from the Committee on Commerce, Science, 
and Transportation, with amendments, as follows:

       [Strike the parts shown in black brackets and insert the 
     parts shown in italic.]

                                S. 1404

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``United States Olympic 
     Committee Reform Act''.

     SEC. 2. FINDINGS.

       The Congress finds the following:
       (1) There is a widespread loss of confidence in the United 
     States Olympic Committee.
       (2) Restoring confidence in the United States Olympic 
     Committee is critical to achieving the original intent of the 
     Ted Stevens Amateur and Olympic Sports Act.
       (3) Confusion exists concerning the primary purposes and 
     priorities of the United States Olympic Committee.
       (4) The current governance structure of the United States 
     Olympic Committee is dysfunctional.
       (5) The ongoing national corporate governance debate and 
     recent reforms have important implications for the United 
     States Olympic Committee.
       (6) There exists no clear line of authority between the 
     United States Olympic Committee volunteers and the United 
     States Olympic Committee paid staff.
       (7) There is a widespread perception that the United States 
     Olympic Committee lacks financial transparency.

     SEC. 3. AMENDMENT OF TED STEVENS OLYMPIC AND AMATEUR SPORTS 
                   ACT.

       Except as otherwise expressly provided, whenever in this 
     Act an amendment or repeal is expressed in terms of an 
     amendment to, or repeal of, a section or other provision, the 
     reference shall be considered to be made to a section or 
     other provision of the Ted Stevens Olympic and Amateur Sports 
     Act (36 U.S.C. 220501 et seq.).

     SEC. 4. GOVERNANCE OF THE UNITED STATES OLYMPIC COMMITTEE.

       (a) In General.--The Act (36 U.S.C. 220501) is amended by 
     adding at the end the following:

                      ``SUBCHAPTER III. GOVERNANCE

     ``Sec. 220541. Board of directors

       ``(a) In General.--The board of directors is the governing 
     body of the corporation and shall establish the policies and 
     priorities of the corporation. The board of directors shall 
     have the full authority to manage the affairs of the 
     corporation.
       ``(b) Structure of the Board.--
       ``(1) In general.--The board of directors shall consist of 
     9 elected members and the ex officio members described in 
     paragraph (3).
       ``(2) Elected members.--The elected directors, elected as 
     provided in subsection (g), are--
       ``(A) 5 independent directors, as defined in the 
     constitution and bylaws of the corporation;
       ``(B) 2 directors elected from among those nominated by the 
     Athletes' Advisory Council, who at the time of nomination 
     meet the specifications of section 220504(b)(2)(B) of this 
     title; and
       ``(C) 2 directors elected from among those nominated by the 
     National Governing Bodies' Council.
       ``(3) Ex officio members.--The ex officio members are--
       ``(A) the speaker of the assembly; and
       ``(B) the International Olympic Committee member or members 
     from the United States who are required to be ex officio 
     members of the executive organ of the corporation under the 
     terms of the Olympic Charter.
       ``(c) Terms of Office.--
       ``(1) Elected directors.--The term of office of an elected 
     director shall be 4 years. An individual elected to replace a 
     director who does not serve a full 4-year term shall be 
     elected initially to serve only the balance of the expired 
     term of the member that director replaces. No director shall 
     be eligible for reelection, except a director whose total 
     period of service, if elected, would not exceed 6 years. The 
     chair of the board shall be eligible to serve an additional 2 
     years as required to complete his or her term as chair.
       ``(2) Staggered terms.--Notwithstanding paragraph (1), of 
     the directors first elected to the board after the date of 
     enactment of the United States Olympic Committee Reform Act--
       ``(A) 2 of the directors elected under paragraph (2)(A) 
     shall be elected for terms of 2 years;
       ``(B) 3 of the directors elected under paragraph (2)(A) 
     shall be elected for terms of 4 years;
       ``(C) 1 of the directors elected under paragraph (2)(B) 
     shall be elected for a term of 2 years;
       ``(D) 1 of the directors elected under paragraph (2)(B) 
     shall be elected for a term of 4 years;
       ``(E) 1 of the directors elected under paragraph (2)(C) 
     shall be elected for a term of a term of 2 years; and
       ``(F) 1 of the directors elected under paragraph (2)(C) 
     shall be elected for a term of a term of 4 years.
       ``(3) Ex officio members.--The speaker of the assembly 
     shall serve as a non-voting ex officio member of the board 
     while holding the position of speaker of the assembly. An 
     International Olympic Committee member shall serve as an 
     ex officio member of the board for so long as the member 
     is a member of that Committee.
       ``(d) Voting.--
       ``(1) Elected members.--Each elected director shall have 1 
     vote on all matters on which the board votes, consistent with 
     the constitution and bylaws of the corporation.
       ``(2) Ex officio members.--Each voting ex officio member 
     shall have 1 vote on matters on which the ex officio members 
     vote, consistent with the constitution and bylaws of the 
     corporation, and the votes of the ex officio members shall be 
     weighted such that, in the aggregate, the votes of all voting 
     ex officio members are equal to the vote of one elected 
     director.
       ``(3) Tie votes.--In the event of a tie vote of the board, 
     the vote of the chair of the board shall serve to break the 
     tie.
       ``(4) Quorum.--The board may not take action in the absence 
     of a quorum, which shall be 7 members, of whom at least 3 
     shall be members described in subsection (b)(2)(A).
       ``(e) Chair of the Board.--The board shall elect 1 of the 
     members described in subsection (b)(2) to serve as chair of 
     the board first elected after the date of enactment of the 
     United States Olympic Committee Reform Act. The chair of the 
     board shall preside at all meetings of the board and have 
     such other duties as may be provided in the constitution and 
     bylaws of the corporation. No individual may hold the 
     position of chair of the board for more than 4 years.
       ``(f) Committees.--
       ``(1) In general.--The board of directors shall establish 
     the following 4 standing committees:
       ``(A) The Audit Committee.
       ``(B) The Compensation Committee.
       ``(C) The Ethics Committee.
       ``(D) The Nominating and Governance Committee.
       ``(2) Committee membership.--The Compensation Committee 
     shall consist of 3 board members selected by the board. The 
     Audit Committee, Ethics Committee, and Nominating and 
     Governance Committee shall each consist of--
       ``(A) 3 board members described in subsection (b)(2)(A), 
     selected by the board;
       ``(B) 1 board member described in subsection (b)(2)(B), 
     selected by the board; and
       ``(C) 1 board member described in subsection (b)(2)(C), 
     selected by the board.
       ``(3) Additional committees.--The board may establish such 
     additional committees, subcommittees, and task forces as may 
     be necessary or appropriate and for which sufficient funds 
     exist.
       ``(g) Nomination and Election.--

[[Page S11868]]

       ``(1) In general.--The nominating and governance committee 
     shall recommend candidates to the board of directors to fill 
     vacancies on the board as provided in the constitution and 
     bylaws of the corporation. For each vacancy that is to be 
     filled by a nominee of the Athletes' Advisory Council or the 
     National Governing Bodies' Council, the Athletes' Advisory 
     Council or the National Governing Bodies' Council shall 
     recommend 3 individuals to the nominating and governance 
     committee, which shall nominate 1 of the recommended 
     individuals to the board of directors.
       ``(2) Recusal of members eligible for re-election.--Any 
     member of the nominating and governance committee who is 
     eligible for re-election by virtue of serving for an initial 
     term of less than 2 years shall be recused from participation 
     in the nominating and recommendation process.
       ``(3) Board to elect members.--Except as provided in 
     section 4(c)(2) of the United States Olympic Committee Reform 
     Act, the board of directors shall elect directors from the 
     candidates proposed by the nominating and governance 
     committee.

     ``Sec. 220542. Assembly

       ``(a) In General.--
       ``(1) Forum function.--The assembly shall be a forum for 
     all stakeholders of the corporation. The assembly shall have 
     an advisory function only, except as otherwise expressly 
     provided in this chapter.
       ``(2) Voting on matters relating to the olympic games.--The 
     assembly shall have the right to vote on, and shall have 
     ultimate authority to decide, matters relating to the Olympic 
     Games. The board of directors shall determine whether a 
     matter is a question relating to the Olympic Games on which 
     the assembly is entitled to vote. The determination of the 
     board shall be final and binding.
       ``(3) Meetings.--The assembly shall convene annually in a 
     meeting open to the public. The board of directors may 
     convene special meetings of the assembly.
       ``(4) Annual budget.--The board of directors shall 
     establish an annual budget for the assembly, as provided in 
     the constitution and bylaws of the corporation. In 
     establishing the budget, the board of directors shall take 
     into account the interest of the corporation in minimizing 
     the costs associated with the assembly.
       ``(b) Structure of the Assembly.--
       ``(1) In general.--The assembly shall consist of--
       ``(A) representatives of the constituencies of the 
     corporation specified in section 220504 of this title (other 
     than former United States Olympic Committee members);
       ``(B) the International Olympic Committee's members for the 
     United States; and
       ``(C) not more than 3 individuals who have represented the 
     United States in an Olympic Games not within the preceding 10 
     years, selected through a process to be determined by the 
     board of directors in accordance with the constitution and 
     bylaws of the corporation.
       ``(2) Amateur athlete representation.--Amateur athletes 
     shall constitute not less than 20 percent of the membership 
     in the assembly.
       ``(c) Voting.--
       ``(1) Representatives of the national governing bodies.--
     Representatives of the national governing bodies shall 
     constitute not less than 51 percent of the voting power held 
     in the assembly.
       ``(2) Amateur athletes.--Amateur athletes shall constitute 
     not less than 20 percent of the voting power held in the 
     assembly.
       ``(d) Speaker of the Assembly.--The speaker of the assembly 
     shall be a member of the assembly (who, as a member, is 
     entitled to vote) who is elected by the members of the 
     assembly for a 4-year term. An individual may not serve as 
     speaker for more than 4 years. The speaker shall preside at 
     all meetings of the assembly and serve as a non-voting ex 
     officio member of the board of directors as provided in 
     section 220541. The speaker shall have no other duties or 
     powers (other than the right to vote), except as may be 
     expressly assigned by the board of directors.

     ``Sec. 220543. Chief executive officer

       ``(a) In General.--The corporation shall have a chief 
     executive officer who shall not be a member of the board of 
     directors. The chief executive officer shall be selected by, 
     and shall report to, the board of directors, as provided in 
     the constitution and bylaws of the corporation. The chief 
     executive officer shall be responsible, with board approval, 
     for filling other key senior management positions as provided 
     in the constitution and bylaws of the corporation.
       ``(b) Duties.--The chief executive officer shall, either 
     directly or by delegation--
       ``(1) manage all staff functions and the day-to-day affairs 
     and business operations of the corporation, including but not 
     limited to relations with international organizations; and
       ``(2) implement the mission and policies of the 
     corporation, as determined by the Board.

     ``Sec. 220544. Whistleblower procedures and protections

       ``The corporation, through the board of directors, shall 
     establish procedures for--
       ``(1) the receipt, retention, and treatment of complaints 
     received by the corporation regarding accounting, auditing or 
     ethical matters; and
       ``(2) the protection against retaliation by any officer, 
     employee, director or member of the corporation against any 
     person who submits such complaints.

     ``Sec. 220545. Ethics and compliance

       ``(a) In General.--The ethics committee shall be 
     responsible for oversight of--
       ``(1) all matters relating to ethics policy and practices 
     of the corporation's employees, board members, and 
     volunteers;
       ``(2) officers or directors of a member organization 
     insofar as their activities relate to corporation business; 
     and
       ``(3) paid and volunteer leadership staff of a bid city 
     organization for activities that relate directly to the bid 
     city process.
       ``(b) Internal Ethics Officer.--
       ``(1) In general.--The board of directors shall employ and 
     fix the compensation of a chief ethics officer to implement 
     the ethics policy for the corporation.
       ``(2) Duties.--The ethics committee shall establish 
     policies and procedures to delineate the duties of the chief 
     ethics officer.
       ``(3) Line of authority.--
       ``(A) In general.--The chief ethics officer shall report to 
     the chief executive officer of the corporation.
       ``(B) Certain parties.--Notwithstanding subparagraph (A), 
     the chief ethics officer shall report to the ethics committee 
     whenever an alleged violation involves--
       ``(i) senior management or directors of the corporation;
       ``(ii) officers or directors of a member organization;
       ``(iii) a bid city; or
       ``(iv) the International Olympic Committee.
       ``(c) Ethics Policy.--The ethics committee shall establish 
     an ethics policy for the corporation, subject to the approval 
     of the board of directors, modeled upon the best practices 
     used in corporate and government offices. The policy shall 
     include--
       ``(1) a conflict of interest policy;
       ``(2) an anti-discrimination policy;
       ``(3) a workplace harassment policy;
       ``(4) a gift, travel reimbursement, honorarium, and outside 
     income policy;
       ``(5) a financial propriety policy, including a prohibition 
     on loans to corporation officers and employees;
       ``(6) a bid-city policy which includes a transparent and 
     objective set of criteria published in advance by which the 
     corporation will choose a United States city to submit a bid 
     to the International Olympic Committee for an Olympic games, 
     which adheres in all respects to the rules and ethics 
     guidelines of the Olympic Charter and the International 
     Olympic Committee, and which applies to the leaders and staff 
     of a city, or organizations representing a bid city, that 
     file an official bid with the corporation to host Olympic 
     games;
       ``(7) potential sanctions and penalties for violations of 
     the ethics policy, which may include removal from corporation 
     duties;
       ``(8) a procedure for reporting and investigating potential 
     ethics violations; and
       ``(9) procedures to assure due process for any individual 
     accused of an ethics violation, including--
       ``(A) a timely hearing before the ethics committee;
       ``(B) the right to be represented by counsel; and
       ``(C) access to all documentation and statements that would 
     be used in an ethics proceeding against that individual.
       ``(d) Written Statement Required.--All members of the 
     board, employees, and officers, directors of member 
     organizations, and leaders or representatives of United 
     States bid cities must sign a statement that they have read 
     the corporation's ethics policy and agree to abide by its 
     rules.
       ``(e) Ethics Committee Adjudication of Violations.--When 
     the ethics committee determines that an individual has 
     violated the corporation's ethics policy, it will report to 
     the Board and may make recommendations for action to be 
     taken.
       ``(f) Investigation, Reporting, and Review Procedures.--The 
     ethics committee shall establish a procedure for the prompt 
     review and investigation of ethics violations, and establish 
     regular reporting and review procedures to document the 
     number and types of complaints or issues brought to the 
     ethics committee and the ethics officer.
       ``(g) Outside Counsel.--The ethics committee may hire 
     outside counsel to conduct investigations, report findings, 
     and make recommendations.
       ``(h) Bid City Defined.--In this section, the term `bid 
     city' means 1 or more cities, States, regional organizations, 
     or other organizations that file an official bid with the 
     corporation to be chosen as the site nominated by the United 
     States to the International Olympic Committee to host an 
     Olympic Games.''.
       (b) Transition.--The individuals serving as members of the 
     board of directors of the United States Olympic Committee on 
     the date of enactment of this Act shall continue to serve as 
     the board of directors until a board of directors has been 
     elected under subsection (c)(2) of this section.
       (c) Initial Nominating and Governance Committee.--
       (1) In general.--Until the initial board of directors has 
     been elected and taken office, the nominating and governance 
     committee required by section 220541(f) of title 36, United 
     States Code, shall consist of--
       (A) 1 individual selected by the Athlete's Advisory Council 
     from among its members;
       (B) 1 individual selected by the National Governing Bodies' 
     Council from among its members;
       (C) 1 individual selected by the public-sector directors of 
     the United States Olympic Committee from among such directors 
     serving on the date of enactment of this Act;

[[Page S11869]]

       (D) 1 individual selected by the Independent Commission on 
     Reform of the established by the United States Olympic 
     Committee in March, 2003, from among its members, who shall 
     chair the committee; and
       (E) 1 individual selected by the Governance and Ethics Task 
     Force established by the United States Olympic Committee in 
     February, 2003, from among its members.
       (2) Election of new board of directors.--The nominating and 
     governance committee established by paragraph (1) shall--
       (A) elect an initial board or directors who shall serve for 
     the terms provided in section 220541(c)(2) of title 36, 
     United States Code; and
       (B) elect 1 of the members described in section 
     220541(b)(2)(A) of that title to serve as chair until the 
     terms of the members elected under subparagraph (A) have 
     expired.
       (d) Conforming Amendments.--
       (1) Representation requirements.--Section 220504(b) is 
     amended--
       (A) by striking ``representation of--'' and inserting 
     ``representation on its board of directors and in its 
     assembly of--''; and
       (B) by striking subparagraph (B) of paragraph (2) and 
     inserting the following:
       ``(B) ensure that--
       ``(i) the membership and voting power of such amateur 
     athletes is not less than 20 percent of the membership and 
     voting power of each committee, subcommittee, working group, 
     or other subordinate decision-making group, of the 
     corporation; and
       ``(ii) the voting power held by members of the board of 
     directors who were nominated by the Athlete's Advisory 
     Council is not less than 20 percent of the total voting power 
     held in the board of directors;''.
       (2) Constitution and bylaws.--Section 220505(a) is 
     amended--
       (A) by striking ``bylaws.'' and inserting ``bylaws 
     consistent with this chapter, as determined by the board of 
     directors. The board of directors shall adopt and amend the 
     constitution and bylaws of the corporation, consistent with 
     this chapter.'';
       (B) by inserting ``the board of directors proposes and 
     approves by majority vote such an amendment and'' after 
     ``only if''; and
       (C) by striking ``publication,'' in paragraph (1) and 
     inserting ``publication and on its website,''.
       (3) Ombudsman to report to board of directors.--Section 
     220509(b) is amended--
       (A) by inserting ``the board of directors and'' in 
     paragraph (1)(C) after ``report to'';
       (B) by striking ``corporation's executive director'' in 
     paragraph (2)(A)(i) and inserting ``board of directors'';
       (C) by striking clauses (ii) and (iii) of paragraph (2)(A) 
     and inserting the following:
       ``(ii) The board of directors shall hire or not hire such 
     person after fully considering the advice and counsel of the 
     Athlete's Advisory Council.'';
       (D) by striking ``corporation'' the first place it appears 
     in paragraph (2)(B) and inserting ``board of directors'';
       (E) by striking ``to the corporation's executive committee 
     by either the corporation's executive director'' in paragraph 
     (2)(B)(ii) and inserting ``by 1 or more members of the board 
     of directors''; and
       (F) by striking ``corporation's executive committee'' in 
     paragraph (2)(B)(iii) and inserting ``board of directors''.
       (4) Eligibility requirements.--Section 220522(a)(4)(B) is 
     amended by striking ``corporation's executive committee'' and 
     inserting ``board of directors''.
       (5) Chapter analysis.--The chapter analysis for chapter 
     2205 [of title 36, United States Code,] is amended by adding 
     at the end the following:

                      ``SUBCHAPTER III. GOVERNANCE

``220541. Board of directors
``220542. Assembly
``220543. Chief executive officer
``220544. Whistleblower procedures and protections
``220545. Ethics and compliance''.

     SEC. 5. REPORTS.

       Section 220511 is amended--
       (1) by striking so much of subsection (a) as precedes 
     paragraph (2) and inserting the following:
       ``(a) Biennial Report.--On or before the first day of June 
     of every other year, the corporation shall transmit 
     simultaneously to the President and to each House of Congress 
     a detailed report of its operations for the preceding 2 
     years, including--
       ``(1) annual financial statements--
       ``(A) audited in accordance with generally accepted 
     accounting principles by an independent certified public 
     accountant; and
       ``(B) certified by the chief executive officer and the 
     chief financial officer of the corporation as to their 
     accuracy and completeness;'';
       (2) by striking ``4-year period;'' in subsection (a)(2) and 
     inserting ``2-year period;''; and
       (3) by inserting ``free of charge on its website (or via a 
     similar medium that is widely available to the public), and 
     otherwise'' in subsection (b) after ``persons''.

     SEC. 6. SENIOR OLYMPICS.

       Notwithstanding section 220506(a) of title 36, United 
     States Code, the National Senior Games Association of Baton 
     Rouge, Louisiana, is authorized to use the words ``Senior 
     Olympics'' to promote national athletic competition among 
     senior citizens.

  Mr. McCAIN. The amendment to the United States Olympic Committee 
Reform Act of 2003, S. 1404, being offered by Senator Campbell permits 
the new USOC board, together with the new USOC assembly, to determine 
the location of the organization's headquarters. This amendment is 
consistent with what is already in the USOC's Federal charter, which 
currently allows the USOC to determine where in the United States the 
organization's headquarters should be maintained.
  To move the headquarters, the newly constituted board would first 
determine whether it is in the best interest of the USOC to relocate 
the headquarters. A unanimous vote by the board would be required to 
refer the matter to the assembly for consideration, and then, only by a 
three-fifths majority of the assembly could the USOC headquarters be 
relocated.
  Mr. STEVENS. Mr. President, I thank Senators McCain and Campbell for 
their work on this important issue. My work on the Olympic Sports Act 
began in the 1970s. I believe the reforms in our bill today are 
necessary adjustments that will return the focus of the United States 
Olympic Committee to our original intent--our American athletes!
  The USOC Internal Taskforce and the Senate appointed Independent 
Commission did excellent jobs in reviewing the problems and offering 
solutions to the recent problems that have plagued the USOC. I thank 
the USOC Taskforce and the Independent Commission on the United States 
Olympic Committee for their hard work. S. 1404 includes many of the 
suggested changes from both groups.
  This is a good bill and I support all but one aspect of it. I cannot 
support and will work to remove the section that gives special 
consideration to the Senior Olympics. The only fundraising tool that 
Congress gave the USOC was the exclusive rights to the name, seals, 
emblems and badges of the USOC. The language that allows the Senior 
Olympics to use the Olympic symbols without the USOC permission will 
lead to the destruction of the fundraising ability of the USOC. Above 
all, the use of these symbols should not be subject to being ``licensed 
out'' by any entity but the USOC. I would have opposed this language in 
committee but unfortunately I was chairing a Defense Appropriations 
hearing when the language was offered. I will not hold up the passage 
of this important legislation but will work to remove the language 
creating a death knell to the USOC's ability to raise the funds 
necessary to meet the objectives of our Nation ion international 
competitions.
  This is an important agreement on the location of the USOC 
headquarters. Now this bill can go to conference, after which, with the 
President's approval, it will become law and our American athletes can 
focus all of their efforts on the 2004 Olympic Games.
  I thank Senator McCain's Commerce staff for their hard work on this 
issue. Especially Ken Nahigian and also Brian Feintech of Senator 
Campbell's staff. Their hard work along with that of George Lowe on my 
staff have insured that this important legislation is ready to move 
forward.
  Mr. CAMPBELL. Mr. President, I thank Senator McCain for his patience 
and understanding in this matter and ask to be an original cosponsor of 
this legislation.
  The USOC was crying out for reform. There was the mismanagement of 
funds, poor judgments, and frequent turnover of management. I would 
like to recognize the USOC's internal efforts for reform. Reform has 
been long overdue.
  My opposition to this legislation was to protect not only my 
constituents, but the USOC employees and athletes training in Colorado 
Springs, CO, as well. Again and again, I have heard rumblings about 
moving the headquarters of the USOC to another city, possibly New York 
City. This would be a terrible mistake and I cannot and will not allow 
this to happen.
  The moving expenses would far outweigh the benefits of moving the 
headquarters and I do not want another dime wasted on the governance 
and management of the USOC. I cannot, and I do not think that we can 
make it clear enough: the money raised is first and foremost for the 
benefit and training of athletes, not for extra cushions on the chairs 
of those sitting in offices with pretty views of skylines.
  The costs to the State of Colorado must be recognized too. The 
presence

[[Page S11870]]

of the USOC in Colorado Springs generates over $300 million per year in 
revenue. My State cannot afford taking a hit like that now. To be 
exact, the USOC generates $315.9 million a year for the Pikes Peak 
Region; employs over 500 fund-raising staff; is home to 250 Olympic 
hopefuls, resident athletes in various sports; provides about 4,800 
jobs in the Colorado Springs area, directly and indirectly; and serves 
about 38,000 tourists each year.
  I would like to point out Colorado's own commitment to the United 
States Olympic Committee. The Colorado State legislature passed law 
allowing out-of-State doctors to practice medicine at the center 
without having to pass a Colorado test for a medical license; passed a 
law allowing out-of-State athletes at the training center to pay 
instate college tuition so they could continue their education while 
training; and created a check-off box on State income tax returns 
allowing taxpayers to donate $1, which initially raised about $200,000 
a year.
  The argument that moving to a major metropolitan area to have better 
access to marketing and mass media is completely invalid. NBC agreed to 
pay $2.2 billion for U.S. television rights to the 2010 Winter Olympic 
Games and the 2012 Summer Olympic Games. That deal includes a 
sponsorship by NBC parent company, General Electric, which is based in 
Connecticut. San Francisco-based VISA continues to support the Olympic 
movement as does Bank of America, based in Charlotte, NC. Obviously, 
the USOC is not having any problem securing media coverage or 
sponsorships.
  Lastly, I would like to point out Section 834 of Public Law 99-167, 
passed during the 1st Session of the 99th Congress, in 1985. The 
current home of the USOC used to be part of Ent Air Force Base in 
Colorado Springs. Section 834 conveyed land that the USOC had been 
leasing from the U.S. Air Force to the USOC under the conditions that 
the property be used by the USOC solely for USOC activities and if it 
is not used for that purpose, the property shall be repossessed by the 
Government. This did not imply that the USOC could use it for a while 
or use it only in part. If the USOC is not going to use it, then the 
property should be given back to us.
  Mr. BURNS. Mr. President, I ask unanimous consent that the committee 
amendments be agreed to, the Campbell amendment be agreed to, the bill, 
as amended, be read a third time and passed, and the motion to 
reconsider be laid upon the table; and that any statements relating to 
the bill be printed in the Record.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The committee amendments were agreed to.
  The amendment (No. 1767) was agreed to, as follows:
       On page 22, between lines 18 and 19, insert the following:

     SEC. 6. RELOCATION OF HEADQUARTERS.

       Section 220508 is amended--
       (1) by inserting ``(a) In General.--'' before ``The 
     corporation shall''; and
       (2) by adding at the end the following:
       ``(b) Relocation of Headquarters.--The corporation may not 
     relocate its principal office and national headquarters after 
     the date of enactment of the United States Olympic Committee 
     Reform Act unless--
       ``(1) the board of directors determines that relocation of 
     the principal office and national headquarters is in the best 
     interests of the corporation;
       ``(2) the board, by rollcall vote, agrees unanimously to 
     refer the proposed relocation of the principal office and 
     national headquarters to the assembly for its concurrence; 
     and
       ``(3) the assembly, by a vote of not less than three-fifths 
     of its members duly chosen and qualified, concurs in the 
     determination of the board.''.

  The bill (S. 1404), as amended, was read the third time and passed, 
as follows:

                                S. 1404

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``United States Olympic 
     Committee Reform Act''.

     SEC. 2. FINDINGS.

       The Congress finds the following:
       (1) There is a widespread loss of confidence in the United 
     States Olympic Committee.
       (2) Restoring confidence in the United States Olympic 
     Committee is critical to achieving the original intent of the 
     Ted Stevens Amateur and Olympic Sports Act.
       (3) Confusion exists concerning the primary purposes and 
     priorities of the United States Olympic Committee.
       (4) The current governance structure of the United States 
     Olympic Committee is dysfunctional.
       (5) The ongoing national corporate governance debate and 
     recent reforms have important implications for the United 
     States Olympic Committee.
       (6) There exists no clear line of authority between the 
     United States Olympic Committee volunteers and the United 
     States Olympic Committee paid staff.
       (7) There is a widespread perception that the United States 
     Olympic Committee lacks financial transparency.

     SEC. 3. AMENDMENT OF TED STEVENS OLYMPIC AND AMATEUR SPORTS 
                   ACT.

       Except as otherwise expressly provided, whenever in this 
     Act an amendment or repeal is expressed in terms of an 
     amendment to, or repeal of, a section or other provision, the 
     reference shall be considered to be made to a section or 
     other provision of the Ted Stevens Olympic and Amateur Sports 
     Act (36 U.S.C. 220501 et seq.).

     SEC. 4. GOVERNANCE OF THE UNITED STATES OLYMPIC COMMITTEE.

       (a) In General.--The Act (36 U.S.C. 220501) is amended by 
     adding at the end the following:

                      ``SUBCHAPTER III. GOVERNANCE

     ``Sec. 220541. Board of directors

       ``(a) In General.--The board of directors is the governing 
     body of the corporation and shall establish the policies and 
     priorities of the corporation. The board of directors shall 
     have the full authority to manage the affairs of the 
     corporation.
       ``(b) Structure of the Board.--
       ``(1) In general.--The board of directors shall consist of 
     9 elected members and the ex officio members described in 
     paragraph (3).
       ``(2) Elected members.--The elected directors, elected as 
     provided in subsection (g), are--
       ``(A) 5 independent directors, as defined in the 
     constitution and bylaws of the corporation;
       ``(B) 2 directors elected from among those nominated by the 
     Athletes' Advisory Council, who at the time of nomination 
     meet the specifications of section 220504(b)(2)(B) of this 
     title; and
       ``(C) 2 directors elected from among those nominated by the 
     National Governing Bodies' Council.
       ``(3) Ex officio members.--The ex officio members are--
       ``(A) the speaker of the assembly; and
       ``(B) the International Olympic Committee member or members 
     from the United States who are required to be ex officio 
     members of the executive organ of the corporation under the 
     terms of the Olympic Charter.
       ``(c) Terms of Office.--
       ``(1) Elected directors.--The term of office of an elected 
     director shall be 4 years. An individual elected to replace a 
     director who does not serve a full 4-year term shall be 
     elected initially to serve only the balance of the expired 
     term of the member that director replaces. No director shall 
     be eligible for reelection, except a director whose total 
     period of service, if elected, would not exceed 6 years. The 
     chair of the board shall be eligible to serve an additional 2 
     years as required to complete his or her term as chair.
       ``(2) Staggered terms.--Notwithstanding paragraph (1), of 
     the directors first elected to the board after the date of 
     enactment of the United States Olympic Committee Reform Act--
       ``(A) 2 of the directors elected under paragraph (2)(A) 
     shall be elected for terms of 2 years;
       ``(B) 3 of the directors elected under paragraph (2)(A) 
     shall be elected for terms of 4 years;
       ``(C) 1 of the directors elected under paragraph (2)(B) 
     shall be elected for a term of 2 years;
       ``(D) 1 of the directors elected under paragraph (2)(B) 
     shall be elected for a term of 4 years;
       ``(E) 1 of the directors elected under paragraph (2)(C) 
     shall be elected for a term of a term of 2 years; and
       ``(F) 1 of the directors elected under paragraph (2)(C) 
     shall be elected for a term of a term of 4 years.
       ``(3) Ex officio members.--The speaker of the assembly 
     shall serve as a non-voting ex officio member of the board 
     while holding the position of speaker of the assembly. An 
     International Olympic Committee member shall serve as an ex 
     officio member of the board for so long as the member is a 
     member of that Committee.
       ``(d) Voting.--
       ``(1) Elected members.--Each elected director shall have 1 
     vote on all matters on which the board votes, consistent with 
     the constitution and bylaws of the corporation.
       ``(2) Ex officio members.--Each voting ex officio member 
     shall have 1 vote on matters on which the ex officio members 
     vote, consistent with the constitution and bylaws of the 
     corporation, and the votes of the ex officio members shall be 
     weighted such that, in the aggregate, the votes of all voting 
     ex officio members are equal to the vote of one elected 
     director.
       ``(3) Tie votes.--In the event of a tie vote of the board, 
     the vote of the chair of the board shall serve to break the 
     tie.
       ``(4) Quorum.--The board may not take action in the absence 
     of a quorum, which shall be 7 members, of whom at least 3 
     shall be members described in subsection (b)(2)(A).

[[Page S11871]]

       ``(e) Chair of the Board.--The board shall elect 1 of the 
     members described in subsection (b)(2) to serve as chair of 
     the board first elected after the date of enactment of the 
     United States Olympic Committee Reform Act. The chair of the 
     board shall preside at all meetings of the board and have 
     such other duties as may be provided in the constitution and 
     bylaws of the corporation. No individual may hold the 
     position of chair of the board for more than 4 years.
       ``(f) Committees.--
       ``(1) In general.--The board of directors shall establish 
     the following 4 standing committees:
       ``(A) The Audit Committee.
       ``(B) The Compensation Committee.
       ``(C) The Ethics Committee.
       ``(D) The Nominating and Governance Committee.
       ``(2) Committee membership.--The Compensation Committee 
     shall consist of 3 board members selected by the board. The 
     Audit Committee, Ethics Committee, and Nominating and 
     Governance Committee shall each consist of--
       ``(A) 3 board members described in subsection (b)(2)(A), 
     selected by the board;
       ``(B) 1 board member described in subsection (b)(2)(B), 
     selected by the board; and
       ``(C) 1 board member described in subsection (b)(2)(C), 
     selected by the board.
       ``(3) Additional committees.--The board may establish such 
     additional committees, subcommittees, and task forces as may 
     be necessary or appropriate and for which sufficient funds 
     exist.
       ``(g) Nomination and Election.--
       ``(1) In general.--The nominating and governance committee 
     shall recommend candidates to the board of directors to fill 
     vacancies on the board as provided in the constitution and 
     bylaws of the corporation. For each vacancy that is to be 
     filled by a nominee of the Athletes' Advisory Council or the 
     National Governing Bodies' Council, the Athletes' Advisory 
     Council or the National Governing Bodies' Council shall 
     recommend 3 individuals to the nominating and governance 
     committee, which shall nominate 1 of the recommended 
     individuals to the board of directors.
       ``(2) Recusal of members eligible for re-election.--Any 
     member of the nominating and governance committee who is 
     eligible for re-election by virtue of serving for an initial 
     term of less than 2 years shall be recused from participation 
     in the nominating and recommendation process.
       ``(3) Board to elect members.--Except as provided in 
     section 4(c)(2) of the United States Olympic Committee Reform 
     Act, the board of directors shall elect directors from the 
     candidates proposed by the nominating and governance 
     committee.

     ``Sec. 220542. Assembly

       ``(a) In General.--
       ``(1) Forum function.--The assembly shall be a forum for 
     all stakeholders of the corporation. The assembly shall have 
     an advisory function only, except as otherwise expressly 
     provided in this chapter.
       ``(2) Voting on matters relating to the olympic games.--The 
     assembly shall have the right to vote on, and shall have 
     ultimate authority to decide, matters relating to the Olympic 
     Games. The board of directors shall determine whether a 
     matter is a question relating to the Olympic Games on which 
     the assembly is entitled to vote. The determination of the 
     board shall be final and binding.
       ``(3) Meetings.--The assembly shall convene annually in a 
     meeting open to the public. The board of directors may 
     convene special meetings of the assembly.
       ``(4) Annual budget.--The board of directors shall 
     establish an annual budget for the assembly, as provided in 
     the constitution and bylaws of the corporation. In 
     establishing the budget, the board of directors shall take 
     into account the interest of the corporation in minimizing 
     the costs associated with the assembly.
       ``(b) Structure of the Assembly.--
       ``(1) In general.--The assembly shall consist of--
       ``(A) representatives of the constituencies of the 
     corporation specified in section 220504 of this title (other 
     than former United States Olympic Committee members);
       ``(B) the International Olympic Committee's members for the 
     United States; and
       ``(C) not more than 3 individuals who have represented the 
     United States in an Olympic Games not within the preceding 10 
     years, selected through a process to be determined by the 
     board of directors in accordance with the constitution and 
     bylaws of the corporation.
       ``(2) Amateur athlete representation.--Amateur athletes 
     shall constitute not less than 20 percent of the membership 
     in the assembly.
       ``(c) Voting.--
       ``(1) Representatives of the national governing bodies.--
     Representatives of the national governing bodies shall 
     constitute not less than 51 percent of the voting power held 
     in the assembly.
       ``(2) Amateur athletes.--Amateur athletes shall constitute 
     not less than 20 percent of the voting power held in the 
     assembly.
       ``(d) Speaker of the Assembly.--The speaker of the assembly 
     shall be a member of the assembly (who, as a member, is 
     entitled to vote) who is elected by the members of the 
     assembly for a 4-year term. An individual may not serve as 
     speaker for more than 4 years. The speaker shall preside at 
     all meetings of the assembly and serve as a non-voting ex 
     officio member of the board of directors as provided in 
     section 220541. The speaker shall have no other duties or 
     powers (other than the right to vote), except as may be 
     expressly assigned by the board of directors.

     ``Sec. 220543. Chief executive officer

       ``(a) In General.--The corporation shall have a chief 
     executive officer who shall not be a member of the board of 
     directors. The chief executive officer shall be selected by, 
     and shall report to, the board of directors, as provided in 
     the constitution and bylaws of the corporation. The chief 
     executive officer shall be responsible, with board approval, 
     for filling other key senior management positions as provided 
     in the constitution and bylaws of the corporation.
       ``(b) Duties.--The chief executive officer shall, either 
     directly or by delegation--
       ``(1) manage all staff functions and the day-to-day affairs 
     and business operations of the corporation, including but not 
     limited to relations with international organizations; and
       ``(2) implement the mission and policies of the 
     corporation, as determined by the Board.

     ``Sec. 220544. Whistleblower procedures and protections

       ``The corporation, through the board of directors, shall 
     establish procedures for--
       ``(1) the receipt, retention, and treatment of complaints 
     received by the corporation regarding accounting, auditing or 
     ethical matters; and
       ``(2) the protection against retaliation by any officer, 
     employee, director or member of the corporation against any 
     person who submits such complaints.

     ``Sec. 220545. Ethics and compliance

       ``(a) In General.--The ethics committee shall be 
     responsible for oversight of--
       ``(1) all matters relating to ethics policy and practices 
     of the corporation's employees, board members, and 
     volunteers;
       ``(2) officers or directors of a member organization 
     insofar as their activities relate to corporation business; 
     and
       ``(3) paid and volunteer leadership staff of a bid city 
     organization for activities that relate directly to the bid 
     city process.
       ``(b) Internal Ethics Officer.--
       ``(1) In general.--The board of directors shall employ and 
     fix the compensation of a chief ethics officer to implement 
     the ethics policy for the corporation.
       ``(2) Duties.--The ethics committee shall establish 
     policies and procedures to delineate the duties of the chief 
     ethics officer.
       ``(3) Line of authority.--
       ``(A) In general.--The chief ethics officer shall report to 
     the chief executive officer of the corporation.
       ``(B) Certain parties.--Notwithstanding subparagraph (A), 
     the chief ethics officer shall report to the ethics committee 
     whenever an alleged violation involves--
       ``(i) senior management or directors of the corporation;
       ``(ii) officers or directors of a member organization;
       ``(iii) a bid city; or
       ``(iv) the International Olympic Committee.
       ``(c) Ethics Policy.--The ethics committee shall establish 
     an ethics policy for the corporation, subject to the approval 
     of the board of directors, modeled upon the best practices 
     used in corporate and government offices. The policy shall 
     include--
       ``(1) a conflict of interest policy;
       ``(2) an anti-discrimination policy;
       ``(3) a workplace harassment policy;
       ``(4) a gift, travel reimbursement, honorarium, and outside 
     income policy;
       ``(5) a financial propriety policy, including a prohibition 
     on loans to corporation officers and employees;
       ``(6) a bid-city policy which includes a transparent and 
     objective set of criteria published in advance by which the 
     corporation will choose a United States city to submit a bid 
     to the International Olympic Committee for an Olympic games, 
     which adheres in all respects to the rules and ethics 
     guidelines of the Olympic Charter and the International 
     Olympic Committee, and which applies to the leaders and staff 
     of a city, or organizations representing a bid city, that 
     file an official bid with the corporation to host Olympic 
     games;
       ``(7) potential sanctions and penalties for violations of 
     the ethics policy, which may include removal from corporation 
     duties;
       ``(8) a procedure for reporting and investigating potential 
     ethics violations; and
       ``(9) procedures to assure due process for any individual 
     accused of an ethics violation, including--
       ``(A) a timely hearing before the ethics committee;
       ``(B) the right to be represented by counsel; and
       ``(C) access to all documentation and statements that would 
     be used in an ethics proceeding against that individual.
       ``(d) Written Statement Required.--All members of the 
     board, employees, and officers, directors of member 
     organizations, and leaders or representatives of United 
     States bid cities must sign a statement that they have read 
     the corporation's ethics policy and agree to abide by its 
     rules.
       ``(e) Ethics Committee Adjudication of Violations.--When 
     the ethics committee determines that an individual has 
     violated the corporation's ethics policy, it will report to 
     the Board and may make recommendations for action to be 
     taken.
       ``(f) Investigation, Reporting, and Review Procedures.--The 
     ethics committee shall establish a procedure for the prompt 
     review and investigation of ethics violations,

[[Page S11872]]

     and establish regular reporting and review procedures to 
     document the number and types of complaints or issues brought 
     to the ethics committee and the ethics officer.
       ``(g) Outside Counsel.--The ethics committee may hire 
     outside counsel to conduct investigations, report findings, 
     and make recommendations.
       ``(h) Bid City Defined.--In this section, the term `bid 
     city' means 1 or more cities, States, regional organizations, 
     or other organizations that file an official bid with the 
     corporation to be chosen as the site nominated by the United 
     States to the International Olympic Committee to host an 
     Olympic Games.''.
       (b) Transition.--The individuals serving as members of the 
     board of directors of the United States Olympic Committee on 
     the date of enactment of this Act shall continue to serve as 
     the board of directors until a board of directors has been 
     elected under subsection (c)(2) of this section.
       (c) Initial Nominating and Governance Committee.--
       (1) In general.--Until the initial board of directors has 
     been elected and taken office, the nominating and governance 
     committee required by section 220541(f) of title 36, United 
     States Code, shall consist of--
       (A) 1 individual selected by the Athlete's Advisory Council 
     from among its members;
       (B) 1 individual selected by the National Governing Bodies' 
     Council from among its members;
       (C) 1 individual selected by the public-sector directors of 
     the United States Olympic Committee from among such directors 
     serving on the date of enactment of this Act;
       (D) 1 individual selected by the Independent Commission on 
     Reform of the established by the United States Olympic 
     Committee in March, 2003, from among its members, who shall 
     chair the committee; and
       (E) 1 individual selected by the Governance and Ethics Task 
     Force established by the United States Olympic Committee in 
     February, 2003, from among its members.
       (2) Election of new board of directors.--The nominating and 
     governance committee established by paragraph (1) shall--
       (A) elect an initial board or directors who shall serve for 
     the terms provided in section 220541(c)(2) of title 36, 
     United States Code; and
       (B) elect 1 of the members described in section 
     220541(b)(2)(A) of that title to serve as chair until the 
     terms of the members elected under subparagraph (A) have 
     expired.
       (d) Conforming Amendments.--
       (1) Representation requirements.--Section 220504(b) is 
     amended--
       (A) by striking ``representation of--'' and inserting 
     ``representation on its board of directors and in its 
     assembly of--''; and
       (B) by striking subparagraph (B) of paragraph (2) and 
     inserting the following:
       ``(B) ensure that--
       ``(i) the membership and voting power of such amateur 
     athletes is not less than 20 percent of the membership and 
     voting power of each committee, subcommittee, working group, 
     or other subordinate decision-making group, of the 
     corporation; and
       ``(ii) the voting power held by members of the board of 
     directors who were nominated by the Athlete's Advisory 
     Council is not less than 20 percent of the total voting power 
     held in the board of directors;''.
       (2) Constitution and bylaws.--Section 220505(a) is 
     amended--
       (A) by striking ``bylaws.'' and inserting ``bylaws 
     consistent with this chapter, as determined by the board of 
     directors. The board of directors shall adopt and amend the 
     constitution and bylaws of the corporation, consistent with 
     this chapter.'';
       (B) by inserting ``the board of directors proposes and 
     approves by majority vote such an amendment and'' after 
     ``only if''; and
       (C) by striking ``publication,'' in paragraph (1) and 
     inserting ``publication and on its website,''.
       (3) Ombudsman to report to board of directors.--Section 
     220509(b) is amended--
       (A) by inserting ``the board of directors and'' in 
     paragraph (1)(C) after ``report to'';
       (B) by striking ``corporation's executive director'' in 
     paragraph (2)(A)(i) and inserting ``board of directors'';
       (C) by striking clauses (ii) and (iii) of paragraph (2)(A) 
     and inserting the following:
       ``(ii) The board of directors shall hire or not hire such 
     person after fully considering the advice and counsel of the 
     Athlete's Advisory Council.'';
       (D) by striking ``corporation'' the first place it appears 
     in paragraph (2)(B) and inserting ``board of directors'';
       (E) by striking ``to the corporation's executive committee 
     by either the corporation's executive director'' in paragraph 
     (2)(B)(ii) and inserting ``by 1 or more members of the board 
     of directors''; and
       (F) by striking ``corporation's executive committee'' in 
     paragraph (2)(B)(iii) and inserting ``board of directors''.
       (4) Eligibility requirements.--Section 220522(a)(4)(B) is 
     amended by striking ``corporation's executive committee'' and 
     inserting ``board of directors''.
       (5) Chapter analysis.--The chapter analysis for chapter 
     2205 is amended by adding at the end the following:

                      ``SUBCHAPTER III. GOVERNANCE

``220541. Board of directors
``220542. Assembly
``220543. Chief executive officer
``220544. Whistleblower procedures and protections
``220545. Ethics and compliance''.

     SEC. 5. REPORTS.

       Section 220511 is amended--
       (1) by striking so much of subsection (a) as precedes 
     paragraph (2) and inserting the following:
       ``(a) Biennial Report.--On or before the first day of June 
     of every other year, the corporation shall transmit 
     simultaneously to the President and to each House of Congress 
     a detailed report of its operations for the preceding 2 
     years, including--
       ``(1) annual financial statements--
       ``(A) audited in accordance with generally accepted 
     accounting principles by an independent certified public 
     accountant; and
       ``(B) certified by the chief executive officer and the 
     chief financial officer of the corporation as to their 
     accuracy and completeness;'';
       (2) by striking ``4-year period;'' in subsection (a)(2) and 
     inserting ``2-year period;''; and
       (3) by inserting ``free of charge on its website (or via a 
     similar medium that is widely available to the public), and 
     otherwise'' in subsection (b) after ``persons''.

     SEC. 6. RELOCATION OF HEADQUARTERS.

       Section 220508 is amended--
       (1) by inserting ``(a) In General.--'' before ``The 
     corporation shall''; and
       (2) by adding at the end the following:
       ``(b) Relocation of Headquarters.--The corporation may not 
     relocate its principal office and national headquarters after 
     the date of enactment of the United States Olympic Committee 
     Reform Act unless--
       ``(1) the board of directors determines that relocation of 
     the principal office and national headquarters is in the best 
     interests of the corporation;
       ``(2) the board, by rollcall vote, agrees unanimously to 
     refer the proposed relocation of the principal office and 
     national headquarters to the assembly for its concurrence; 
     and
       ``(3) the assembly, by a vote of not less than three-fifths 
     of its members duly chosen and qualified, concurs in the 
     determination of the board.''.

     SEC. 7. SENIOR OLYMPICS.

       Notwithstanding section 220506(a) of title 36, United 
     States Code, the National Senior Games Association of Baton 
     Rouge, Louisiana, is authorized to use the words ``Senior 
     Olympics'' to promote national athletic competition among 
     senior citizens.
  Mr. McCAIN. Mr. President, I am pleased that the Senate has passed S. 
1404, the United States Olympic Committee Reform Act of 2003. I thank 
the cosponsors of this important legislation, Senators Stevens and 
Campbell, for their passion for the Olympic movement and their 
contribution to the reform of the United States Olympic Committee, 
USOC. S. 1404 is intended to make significant improvements to the 
governance structure of the USOC by vastly reducing the size of the 
current board of directors and by creating an assembly of USOC 
stakeholders. The bill is intended to allow the USOC to operate more 
effectively within a more streamlined and transparent structure.
  S. 1404 is the product of three Commerce Committee hearings held this 
year in response to a series of embarrassing leadership and ethics 
scandals that have plagued the USOC and distracted the organization 
from its mission. The new board of directors, which would be the 
primary governing body of the organization, would appoint a chief 
executive officer to carry out the board's policies and run the 
organization's day-to-day business operations. The board would defer to 
the judgment of the assembly on matters relating specifically to the 
Olympic Games.
  While maintaining the representation and voting authority of athletes 
and national governing bodies, this legislation also would provide 
increased financial transparency to the USOC and establish whistle-
blower protection for its employees. The bill is designed to streamline 
the USOC to allow a larger percentage of the revenue generated by the 
organization to be allocated to support amateur athletes.
  In addition, we have worked to make this bill comply with the charter 
of the International Olympic Committee, IOC, and will continue to do 
this. It is important to note that corporate governance in the United 
States has changed dramatically over the past year, and these changes 
are leading this country's private and public sectors to adopt higher 
standards of responsibility and accountability. These same standards 
should be applied to the USOC to ensure that the narrow agendas of 
individual USOC constituencies are no longer paramount to the common 
objectives of the organization. To accomplish this objective, we 
propose that the USOC adhere to best corporate governance practices, 
such as requiring that the newly constituted USOC board have at least a 
majority of independent directors. In the end, the

[[Page S11873]]

newly reformed board would govern the day-to-day operations of the 
USOC, and would be able to work with the IOC to address any concerns 
that it might have regarding the USOC's operations.
  The fast-approaching Olympic Games in Athens next summer, as well as 
the ongoing bid by New York City to host the games in 2012, lend 
urgency to this legislation, and I look forward quickly to resolving 
any differences between the Senate and House measures. I urge my 
colleagues to support this very important legislation.

                          ____________________